Franklin Resources Inc. Sells 20,573 Shares of argenex SE $ARGX

Franklin Resources Inc. decreased its holdings in argenex SE (NASDAQ:ARGX) by 8.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 237,701 shares of the company’s stock after selling 20,573 shares during the period. Franklin Resources Inc.’s holdings in argenex were worth $199,895,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ARGX. Abound Wealth Management boosted its stake in shares of argenex by 3,200.0% in the fourth quarter. Abound Wealth Management now owns 33 shares of the company’s stock worth $28,000 after acquiring an additional 32 shares during the period. Sound Income Strategies LLC bought a new position in shares of argenex in the fourth quarter worth about $28,000. Ameriflex Group Inc. bought a new position in shares of argenex in the third quarter worth about $32,000. Sunbelt Securities Inc. bought a new position in shares of argenex in the third quarter worth about $36,000. Finally, Aventura Private Wealth LLC bought a new position in shares of argenex in the fourth quarter worth about $38,000. Institutional investors own 60.32% of the company’s stock.

argenex Trading Up 0.2%

NASDAQ:ARGX opened at $884.00 on Wednesday. The company has a market capitalization of $54.98 billion, a P/E ratio of 39.36, a P/E/G ratio of 1.35 and a beta of 0.47. argenex SE has a 12 month low of $510.05 and a 12 month high of $934.62. The business’s 50-day moving average is $802.55 and its 200 day moving average is $812.13.

argenex (NASDAQ:ARGX) last posted its earnings results on Tuesday, March 31st. The company reported $5.52 EPS for the quarter. The company had revenue of $1.31 billion for the quarter. argenex had a return on equity of 44.37% and a net margin of 31.31%. On average, research analysts forecast that argenex SE will post 26.19 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ARGX. HC Wainwright upped their price objective on argenex from $915.00 to $940.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Wedbush reaffirmed an “outperform” rating and issued a $1,000.00 price objective on shares of argenex in a research note on Thursday, June 4th. Deutsche Bank Aktiengesellschaft raised argenex from a “hold” rating to a “buy” rating in a research note on Tuesday, March 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of argenex in a research report on Monday, April 20th. Finally, Citizens Jmp boosted their target price on argenex from $925.00 to $944.00 and gave the stock a “market outperform” rating in a research report on Friday, February 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, argenex presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,019.50.

argenex Profile

argenx (NASDAQ: ARGX) is a biotechnology company focused on the discovery, development and commercialization of antibody-based therapeutics for severe autoimmune and neuromuscular diseases. The company uses its proprietary SIMPLE Antibody platform to generate differentiated antibodies and engineered Fc regions, and it pursues mechanisms that modulate the neonatal Fc receptor (FcRn) to reduce pathogenic IgG levels. Argenx’s research and development activities span target identification, preclinical development and late-stage clinical programs aimed at addressing unmet needs in immunology.

The company’s lead product, efgartigimod (marketed as Vyvgart), is an FcRn antagonist developed to reduce circulating IgG antibodies and treat IgG-mediated disorders.